Recent Plan News
PA 529 Investment Plan has reached $4 billion in assets
Pennsylvania Treasurer Stacy Garrity announced this week the PA 529 Investment Plan (IP) has reached a new milestone of $4 billion in assets.The PA 529 IP is one of two plans offered by the PA 529 College and Career Savings Program. PA 529 plans offer generous tax benefits and can be used to save not only for four-year colleges but also community colleges, many career and technical schools, trade programs, and qualified apprenticeship programs.
ScholarShare 529 launches Matching Grant Program
Beginning February 1, 2021, a program by ScholarShare 529, California’s official college savings plan, provides eligible families with up to $225 if they open an account and contribute regularly.The Matching Grant Program, designed to help low- to moderate-income families save for their children’s future college expenses, provides a dollar-for-dollar match for contributions to a new ScholarShare 529 account up to $200 and a $25 bonus for establishing an automatic contribution plan.The program is open to all families who meet the eligibility requirements. Nearly half of California’s population is eligible to participate, according to U.S. Census Bureau household income data.
Virginia529 launches new savings option that keeps pace with tuition growth
Virginia529 announces a new savings option designed to provide an affordable way families can save for their children’s future and keep up with rising tuition costs.The new savings option, called the Tuition Track Portfolio, is part of the Invest529 program as an exclusive option for Virginia residents. The portfolio tracks average tuition growth at Virginia public universities (Average Tuition) and avoids market risk by protecting families’ principal investment. With the Tuition Track Portfolio, families purchase units that may be used to cover tuition and other qualified higher education expenses.The value over time of units will keep pace with Average Tuition at Virginia’s public universities. Tuition Track Portfolio units are priced annually based on current Average Tuition, with each unit representing 1percent of annual Average Tuition and 100 units equaling one year of Average Tuition. When it is time for a student to use their funds to pay for their education the value of the units is equal to the then current Average Tuition and may be used at any eligible educational institution and for any postsecondary qualified expenses.